Equities Analysts Issue Forecasts for Sutro Biopharma, Inc.’s Q1 2024 Earnings (NASDAQ:STRO)

Sutro Biopharma, Inc. (NASDAQ:STROFree Report) – Analysts at HC Wainwright reduced their Q1 2024 earnings per share estimates for Sutro Biopharma in a research report issued to clients and investors on Tuesday, March 26th. HC Wainwright analyst A. Fein now forecasts that the company will post earnings of ($0.95) per share for the quarter, down from their prior estimate of ($0.78). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Sutro Biopharma’s current full-year earnings is ($3.23) per share. HC Wainwright also issued estimates for Sutro Biopharma’s Q2 2024 earnings at ($0.97) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($4.12) EPS, FY2025 earnings at ($3.73) EPS, FY2026 earnings at ($3.64) EPS, FY2027 earnings at ($3.12) EPS and FY2028 earnings at ($1.87) EPS.

Several other analysts have also commented on the company. Wedbush decreased their price target on Sutro Biopharma from $12.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $13.71.

Check Out Our Latest Report on Sutro Biopharma

Sutro Biopharma Price Performance

Shares of STRO traded up $0.97 on Thursday, reaching $5.90. 1,985,983 shares of the stock traded hands, compared to its average volume of 923,438. The firm has a market cap of $368.40 million, a price-to-earnings ratio of -2.94 and a beta of 0.95. Sutro Biopharma has a 12 month low of $2.01 and a 12 month high of $6.13. The stock’s 50-day moving average price is $4.47 and its 200-day moving average price is $3.77.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of STRO. Nisa Investment Advisors LLC lifted its stake in shares of Sutro Biopharma by 14,125.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock valued at $38,000 after acquiring an additional 8,758 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Sutro Biopharma by 331.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock valued at $46,000 after acquiring an additional 4,372 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Sutro Biopharma during the second quarter valued at $46,000. Tower Research Capital LLC TRC lifted its stake in shares of Sutro Biopharma by 342.3% during the third quarter. Tower Research Capital LLC TRC now owns 15,128 shares of the company’s stock valued at $52,000 after acquiring an additional 11,708 shares during the period. Finally, Ergoteles LLC acquired a new position in shares of Sutro Biopharma during the second quarter valued at $54,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Insiders Place Their Bets

In other Sutro Biopharma news, insider Nicki Vasquez sold 12,185 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $5.00, for a total value of $60,925.00. Following the transaction, the insider now owns 12,803 shares of the company’s stock, valued at $64,015. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Sutro Biopharma Company Profile

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Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company’s product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

Further Reading

Earnings History and Estimates for Sutro Biopharma (NASDAQ:STRO)

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